Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Net periodic benefit cost for both the Executive Retirement Plan and the Outside Director Plan

Net periodic benefit cost for the Executive Retirement Plan for the three years in the period ended December 31, 2015 is comprised of the following:

	Year Ended December 31,
(Dollars in thousands)	2015			2014			2013
Service cost	$	29		$	88		$	86
Interest cost	225			687			597
Amortization of prior service cost (benefit)	(198		)	(1,189		)	(1,189		)
Amortization of net gain (loss)	343			469			1,380
	399			55			874
Net (gain) loss recognized in Accumulated other comprehensive income (loss)	—			2,570			(2,143		)
Total recognized in net periodic benefit gain and Accumulated other comprehensive income (loss) (1)	$	399		$	2,625		$	(1,269	)

_____

(1) 2015 is a partial year due to the termination of the Executive Retirement Plan.

Change in benefit obligation

The following table sets forth the benefit obligations as of December 31, 2015 and 2014:

	Year Ended December 31,
(Dollars in thousands)	2015			2014
Benefit obligation at beginning of year	$	16,473		$	13,890
Service cost	29			88
Interest cost	225			687
Benefits paid	(42		)	(42		)
Amortization of net gain/loss and prior service cost	145			—
Actuarial loss, net	—			1,850
Settlement loss	5,260			—
Amounts reclassified from accumulated other comprehensive loss arising from settlement on defined benefit pension plan	(2,519		)	—
Benefit obligation at end of year	$	19,571		$	16,473

Amounts recognized in the Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets are as follows:

	Year Ended December 31,
(Dollars in thousands)	2015			2014
Net liabilities included in other liabilities	$	(19,571	)	$	(13,954	)
Amounts recognized in accumulated other comprehensive income (loss)	—			(2,519		)

Schedule of assumptions used

The Company's assumed discount rates and compensation increases, which are used to measure the year-end benefit obligations and earnings for the subsequent year related to the Executive Retirement Plan, which was terminated on May 5, 2015 and are detailed in the following table for the three years ended December 31, 2015 :

	2015		2014		2013
Discount rates	—	%	4.08	%	4.92	%
Compensation increases	—	%	2.7	%	2.7	%